Aptos (APT) Token Unlock: Surpassing Expectations!

The Layer 1 blockchain project Aptos released 24.8 million tokens on December 12, making up 8.9% of its circulating supply. Typically, such token releases are seen negatively, as they increase supply and potentially decrease value. Contrary to expectations, Aptos’ token APT surged nearly 14%, reaching a six-month high with a total value of approximately $201.7 million.

The distribution of these tokens saw core contributors receiving $96.4 million, investors $68.4 million, the community $26.1 million, and the Aptos Foundation $10.8 million. This data comes from TokenUnlocks. Despite a similar token release on November 12 leading to a 13.4% price drop, the recent release has boosted APT’s value to $8.8 on December 12, marking a 20% monthly increase.

Aptos, created by ex-Meta employees in 2021, has attracted substantial funding from leading venture capitalists. It’s also partnered with tech giant Microsoft for AI and Web3 initiatives and South Korea’s SK Telecom for a joint agreement. However, Aptos experienced a significant service outage in October, causing top crypto exchanges to pause APT transactions temporarily.

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